gdf_fx

DOLLAR LONGS USDX/DXY

Long
TVC:DXY   U.S. Dollar Currency Index
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3
The dollar snapped its down trend and we saw a continuation and holding of the ascending trend line to end last week.

We also ended the week with an inside day with the Fridays complete range fully engulfed in the Thursdays candle body.

Fridays close with a big bullish body inverted hammer tells me that bulls have taken control so my initial thoughts are dollar longs.

if we break above the key price zone which I expect then I will expect prices up to 95.90 and then as high as 98 barring fundamental data that changes the course of the dollar. This supports my bias on GBPUSD which is currently short.

Comments

On my instagram i posted this chart over the weekend and noted the inside day. We have broken out to the upside now. if price sells off at the key price zone if price rejects the key price zone i will be pretty heavily short expecting a full inside day failure pattern followed by a resume of the downside to 93.17 ish
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